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Latest news on accounting, financial reporting, business trends, auditing, tax
deductions, tax strategies, the IRS, financial planning, technology, and more.

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It's a good idea to follow up with your debtors and try to collect any outstanding payments by the end of the year. Having cash on hand makes managing your books much smoother.

Now, there are times when it might make sense to delay recording some income until the new year, especially if it could affect your taxes. The same goes for deductible expenses. For instance, if you're planning a significant business deduction, like buying new equipment, it could have a big impact on your taxes one year and an even bigger impact the next.
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Now would be a great time to reconsider your current paycheck withholdings.

Take a look back at the refund you got this year -- was it large?
Or on the flip side: Did you owe more on your return than you expected?

If you fall into either of those categories, you may want to adjust your W-4 before year-end so you can prepare for 2024.

If you have questions about what would be best in your specific situation, we’re here for you.
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One thing that should be on your radar: Year-end moves that will affect your 2023 tax positions. Whether it's spending, saving, asset structure, etc ... we only have one more month (or so) before the books close.

After 12/31/23 ... we're mostly confined to "historical" work on your tax files.

Reach out to talk about it.
... See MoreSee Less

One thing that should be on your radar: Year-end moves that will affect your 2023 tax positions. Whether its spending, saving, asset structure, etc ... we only have one more month (or so) before the books close.

After 12/31/23 ... were mostly confined to historical work on your tax files.

Reach out to talk about it.
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